ThrivePass, a Denver-based employee experience technology company, announced Wednesday that it had acquired The Merriam Agency's pre-tax TPA services. Merriam is a full-service insurance agency headquartered in Upstate New York and has offered a wide variety of insurance products since its founding in 1895.
Both companies set out to forge a strategic partnership that allows Merriam Agency clients to maintain their world-class consulting services with Merriam while also receiving ThrivePass's best-in-class pre-tax administrative technology services. ThrivePass, which has already acquired two other third-party benefits administrators (TPAs), has extensive experience making transitions of this sort seamless.
By acquiring Merriam's pre-tax TPA services, ThrivePass inherits many longstanding clients, with employees enrolled in FSAs, HSAs, and HRAs. This strategic partnership will not only benefit Merriam's current pre-tax TPA clients but the many hundreds of other clients serviced by Merriam Insurance Agency as well.
"We have been in business for 124 years and the services we bring our clients have been very diverse, from property and liability, to automobile and group healthcare. To change to a true national platform required the right partner and we believe ThrivePass is such a partner," said Brian H. Merriam, the agency's president. "We have the confidence that the ThrivePass staff will handle our clients’ TPA needs as well as we have these many years and we will now be able to offer even more services on a true national basis going forward."
Unique among TPAs, ThrivePass's suite of benefits technologies will enable a seamless transition of Merriam's client population.
"The partnership with Merriam is an exciting milestone in growing ThrivePass," said Andreas Deptolla, ThrivePass's CEO and co-founder. “It was clear to me that Brian Merriam and I share the same values and vision for our mutual clients, which is really the foundation for a successful partnership. I am looking forward to bringing the holistic ThrivePass benefit suite to the nationwide portfolio of Merriam’s client base”.
ThrivePass is a holistic employee benefits company. Its Benefits Suite is an all-encompassing platform dedicated to the entire employee lifecycle. Its new benefits administration system enables employers to manage and employees to enroll in benefits, while the wellness savings account (WSA) and learning & development apps keep employees engaged and healthy during their tenure.
From Dropbox to Polaris, Xcel Energy to Xero, it partners with employers of all stripes to craft personalized and meaningful employee experiences.